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Snezhnost [94]
3 years ago
10

George failed to pay $5,000 of income tax due with the filing of his return, which was timely filed on April 15th. He waits unti

l June 10th after April 15th to pay the tax. How much will his penalties be?
Business
1 answer:
Nadusha1986 [10]3 years ago
3 0

George penalties will be <u>$50</u>.

<u>Explanation</u>:

Penalty is a punishment imposed on the person due to violation of law or contract. Penalty fee is the amount collected from the person for not paying his debts or bills.

Penalty is imposed on the person for the purpose of punishing. If he/she fails to pay their bills, taxes or money borrowed, they will be imposed with penalty charges. So the individual should pay an additional amount as the penalty amount with his original charges.

In the above scenario, George fails to pay his income tax within the given time. So he was charged with the penalty of $50.

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A company manufactures various sized plastic bottles for its medicinal product. The manufacturing cost for small bottles is $67
VLD [36.1K]

Answer:

The company should buy from an outside source rahter than manufacturing because each bottle manufactured costs $5 more.

Explanation:

Differential Analysis

                                                          Make            Buy

Manufacturing Cost per bottle         $ 67

Purchasing Cost per bottle                                  $35

Freight per bottle                                                  $ 5

<u>Fixed Costs                                                            $ 22   </u>

<u>Total                                                   $ 67              $62   </u>

<u />

The company should buy the bottles from the  outside source because the manufacturing costs are higher than the purchasing costs and the fixed costs.

The fixed costs are the irrelevant costs that will continue whether bottles are manufactured or purchased.

6 0
3 years ago
Why is it important for the balance of payments to balance?
Rudiy27

Answer:

A country's balance of payments tells you whether it saves enough to pay for its imports. ... A balance of payments deficit means the country imports more goods, services and capital than it exports. It must borrow from other countries to pay for its imports. In the short-term, that fuels the country's economic growth.

5 0
3 years ago
Which of the following exemplifies a benefit of good​ communication?
Katyanochek1 [597]

Answer:E- Earlier warning of potential problems.

Explanation:Benefits of a good communication are numerous and are listed below:

1- It gives clarity and direction.

2-Effective communication skills provide clear and defined policies. 3-Organizational communication helps organization to be successful. 4- Effective interpersonal communication skills such as listening skills, making eye contact gives boost to your personality.

5- It informs of earlier warnings of potential problems.

5 0
4 years ago
Using the percentage of net sales method, uncollectible accounts expense for the year is estimated to be $54,000. If the balance
PilotLPTM [1.2K]

Answer:

The correct answer is c) $72,000

Explanation:

(Using the percentage of net sales method)

  • Uncollectible accounts expense for the year is estimated to be $54,000

  • If the balance of the Allowance for Uncollectible Accounts is an $18,000 credit before adjustment.

$54,000 + $18,000= $72,000

The balance after adjustment is $72,000

6 0
3 years ago
Julie Martin is investing $26,600 in the Invesco Charter mutual fund. The fund charges a 4.50 percent commission when shares are
Sergeeva-Olga [200]

Answer:

$1,264.50

Explanation:

Calculation for the amount of commission Julie must pay.

Using this formula

Commission=Investment amount× Fund charges percentage

Let plug in the formula

Commission= $28,100 × 0.045

Commission= $1,264.50

Therefore the amount of commission Julie must pay is $1,264.50

6 0
2 years ago
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